Sullivan & Cromwell is advising France Telecom on its E3.9bn (£2.62bn) takeover of Wanadoo, securing the New York giant its second headline M&A deal in the resurgent Paris market.

The firm is representing long-term client France Telecom as it attempts to secure a publicly-held 29% stake of Wanadoo, to give the company the controlling stake in the internet service provider.